PNC Financial Services Group Inc. Sells 39,919 Shares of Invesco Ltd. $IVZ

PNC Financial Services Group Inc. trimmed its position in Invesco Ltd. (NYSE:IVZ) by 19.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 165,696 shares of the asset manager’s stock after selling 39,919 shares during the period. PNC Financial Services Group Inc.’s holdings in Invesco were worth $4,025,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. purchased a new position in Invesco during the fourth quarter valued at $230,391,000. Price T Rowe Associates Inc. MD increased its stake in shares of Invesco by 368.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,729,393 shares of the asset manager’s stock worth $176,782,000 after acquiring an additional 5,292,867 shares in the last quarter. Norges Bank bought a new position in shares of Invesco in the 4th quarter worth about $102,523,000. Samlyn Capital LLC purchased a new position in Invesco during the 3rd quarter valued at about $44,567,000. Finally, Balyasny Asset Management L.P. lifted its position in Invesco by 58.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,092,189 shares of the asset manager’s stock valued at $80,304,000 after acquiring an additional 1,871,666 shares during the period. Institutional investors own 66.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Invesco to a “hold” rating in a report on Tuesday, June 30th. Morgan Stanley lifted their target price on shares of Invesco from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. The Goldman Sachs Group boosted their price target on Invesco from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price target on Invesco from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, Argus reaffirmed a “hold” rating on shares of Invesco in a research report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.31.

Invesco Stock Performance

Shares of Invesco stock opened at $30.09 on Tuesday. Invesco Ltd. has a 1 year low of $20.08 and a 1 year high of $31.02. The firm’s 50-day moving average is $28.04 and its 200 day moving average is $26.67. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of -20.47, a PEG ratio of 0.49 and a beta of 1.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.45.

Invesco (NYSE:IVZ) last released its quarterly earnings data on Tuesday, April 28th. The asset manager reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. Invesco had a negative net margin of 6.11% and a positive return on equity of 11.34%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. Sell-side analysts anticipate that Invesco Ltd. will post 2.78 EPS for the current fiscal year.

Invesco Company Profile

Invesco Ltd. is an independent global investment management firm headquartered in Atlanta, Georgia, and publicly traded on the New York Stock Exchange (NYSE: IVZ). With origins dating back to 1935, the company is dedicated to offering a wide array of investment strategies and solutions to both individual and institutional clients worldwide.

The firm’s product suite encompasses actively managed equity and fixed income funds, passive index funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts, alongside specialized offerings such as private markets, real estate, and structured products.